Obama’s tryst with Unemployment
Can you rely on national averages? As bad as that unemployed data sounds, we have not been told the whole truth. If you think the terrible impact of the Great American recession is demonstrated by an official unemployment rate of 9 percent, think again. One of the most important criteria of economic health is the use of a workforce of countries. This U.S. economic data can be found in unemployment claims report. A recent comparison of Congress has seen millions of unemployed Americans drop at least seven weeks of their unemployment benefits. There is a link between economic growth and unemployment. There is a link between growth and inflation. Therefore, common sense (and financial theory) goes, there must be a link between inflation and unemployment.
The world has a new standard: the economic uncertainty. America with all the elite universities seem to have a road map for how to navigate out of the valley, spiraling economic problems. U.S. fears of a double-dip recession are becoming a reality. Based on published data on employment, it becomes clear that things are more likely to get worse before it gets better with the world’s largest economy faceing a major uphill battle. The recovery, we thought, we had was not associated with job growth that is necessary for long-term growth. A jobless recovery is not practical or probable and stimulus spending that has created a short-term recovery. Unemployment is correct? It may not be exact, and there are lots of reasons.
The unemployment rate measures the number of people who are “underemployed.” Let’s say someone works part-time and offers 15 hours per week, but this person needs a full time job to make ends meet. Several studies have shown that at least 10% of the population of the United States (approx. 18.6 million) are self-employed, and that number is growing at about 5.7% per year, so much for political dithering and whining about the “jobless recovery”
The formation of new jobs is statistically unimpressive. Now you know why they always had the official unemployment rate in the nation at 10 percent and 17 percent when underemployment is counted as a joke, or is it a disappointment, targeted as a bubble of truth? The protests have already started (in Wall Street, New York and other cities like Seattle, Los Angeles and Washington D.C as well) and President Obama has shown intent like he wanted to embrace these protesters, but embracing won’t solve their problem. When the poor suffer so highly disproportionate to the richest, perhaps only violent revolution will set America’s dysfunctional, broken and delusional democracy. Although, that is exactly what is not required, because that would start the chain of events that would be really hard to control.
If people are frantically searching for the direction of the economy, so the unemployment report will be closely monitored and the process can be heavily negotiated. But unemployment can only be achieved with the right policy decisions in government Finally, governments need to modernize the tools of the industrial age that they use to track unemployment.